USDC Issuer Circle Announces Support For 5 New Blockchains

Firm Behind USDC Stablecoin ‘Circle’ Announces Launch of EUROC Stablecoin
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  • USDC support rises from eight to thirteen blockchains due to this new initiative.
  • It was announced at Converge22 conference in San Francisco by Circle CEO.

Due to the delisting of USDC from Binance and WazirX, Circle is looking to increase its presence on other blockchains to preserve its position in the crypto industry.

The company behind USD Coin (USDC) and Euro Coin (EUROC), Circle Internet Financial, has announced plans to expand into five major blockchains as of September 28. Circle is targeting the early years of 2023 for the introduction of its stablecoin on the following blockchains: Arbitrum, Cosmos, NEAR, Optimism, and Polkadot. Since this is the case, developers working on these blockchains may immediately begin testing Circle’s APIs for integration.

Greater Liquidity and Interoperability

According to Circle’s VP of Product Joao Reginatto, the company will be able to increase the number of ecosystems. The support for stablecoin surges from eight to thirteen as a consequence of this new initiative. Giving its customers access to “greater liquidity and interoperability” in their transactions.

Reginatto said that this would allow “institutions, exchanges, developers, and more” to have a choice in a secure and dependable bridge between cryptocurrencies and fiat currencies. It will be simpler to create new apps that prioritize rapid user transactions and programmable wallets if USDC is part of these ecosystems.

At Converge22 conference in San Francisco, Circle CEO and Co-Founder Jeremy Allaire announced the company’s objective. To assist enhance this new blockchain sector. And the narrative surrounding cryptocurrencies is now going from a primarily speculative phase to the utility phase.

Furthermore, he said that in order to improve the ecosystem, simple apps must be developed for all users. Moreover, they may use any stablecoin without worrying about which chain they’re on, he added.

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